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Our
Financial Picture
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2007
Annual Report - National Slovak Society
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| Net Admitted
Assets |
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December 2007
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December 2006
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Bonds |
$216,330,578 |
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$195,031,333
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Preferred
Stocks |
5,032,826 |
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8,276,958
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Common
Stocks |
1,640,097 |
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2,477,821
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Mortgages On Real
Estate |
4,328,318
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4,643,098
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Real Estate
Occupied By Society |
916,356 |
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915,272
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Certificate
Loans |
158,533 |
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127,860
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Cash On
Deposit |
4,829,270 |
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2,695,242
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Computer
Equipment |
0 |
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0
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Deferred
Premiums |
36,924 |
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20,076
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Investment
Income |
2,477,980 |
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2,374,462
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Totals |
$235,750,882 |
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$216,562,122
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Liabilities &
Unassigned Surplus
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December 2007
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December 2006
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Aggregate
Reserves |
$219,769,100 |
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$203,699,600
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Certificate
Claims |
185,000 |
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110,000
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Deposit-Type
Contracts |
3,130,917 |
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1,275,070
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Refunds
Due/Unpaid |
145,000 |
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120,000
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General Expenses
Due |
690,600 |
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517,500
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Retained By
Society As Trustee |
601,928 |
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540,338
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Commissions
Due |
50,000 |
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13,000
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Asset Valuation
Reserve |
1,225,120 |
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1,277,650
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Interest
Maintenance Reserve |
3,049,872 |
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3,053,415
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Contingency
Reserve |
150,000 |
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150,000 |
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Unassigned
Funds |
6,753,345 |
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5,805,549
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Totals |
$235,750,882 |
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$216,562,122
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| Summary Of
Operations |
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December 2007
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December 2006
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Life Premium &
Annuity Income |
$34,401,007 |
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$17,942,793
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Net Investment
Income |
12,947,766 |
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12,059,842
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Amortization Of
Interest Maintenance
Reserve |
133,023 |
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192,420
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Income Sub-Total |
$47,481,796 |
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$30,195,055
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Death
Benefits |
$909,787 |
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$691,378
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Matured
Endowments |
15,197 |
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34,914
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Annuity
Benefits |
25,444,682 |
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18,928,647
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Disability/Health
Benefits |
2,444 |
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2,252
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Surrender
Benefits |
187,783
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135,968
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Certificate
Interest |
9,766 |
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16,120
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Increase In
Aggregate Life Reserves |
16,069,500 |
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7,165,950
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Commissions |
1,262,108 |
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731,886
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General
Expenses |
2,194,713 |
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2,050,963
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Insurance,
Taxes, Fees |
68,527 |
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65,661
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Expense
Sub-Total |
$46,164,507 |
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$29,823,739
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Net Gain From
Operations Before Refunds To Members |
$1,317,289 |
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$371,316
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Refunds To
Members |
(165,389) |
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(123,905)
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Net Gain After
Refunds To Members |
1,151,900 |
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247,411
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Net Realized
Capital Gain |
(248,227) |
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20,597
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Total
Net Income |
$903,673 |
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$268,008
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| Surplus
Account |
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December 2007
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December 2006
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Surplus Dec. '05 & '06
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$5,955,549 |
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$5,048,899
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Net Income From
Operations |
903,673 |
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268,008
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Change in Net
Realized Capital Gains or (Losses)
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12,021 |
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449,192
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Change in NonAdmitted Assets
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(20,428) |
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Change In Asset
Valuation Reserve |
52,530 |
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189,450
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Net Change In
Surplus |
947,796
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906,650
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Surplus At Year
End |
$6,903,345 |
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$5,955,549
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Submitted by Linda M. Strom
National
Secretary/Treasurer
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